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IndiaFirst Life Radiance Smart Invest Plan
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IndiaFirst Life Radiance Smart Invest Plan
IndiaFirst Life Radiance Smart Invest Plan
Enjoy 0% GST on your policy premium. Get ₹1 Cr. Life Cover at just ₹22.5/day* + 10%^ Online Discount with IndiaFirst Life ELITE Term Plan (UIN 143N070V01). *^T&C Apply.
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Tired of complicated insurance? We’ve made it effortless - Introducing IndiaFirst Life app-like tool Calculate, plan, and protect—all from your device. Your future is just a tap away.
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The Swatantrata Sainik Samman Yojana or SSSY is a scheme launched by the government of India to show financial support and appreciation towards Indian freedom fighters. The SSSY provides a source of pension to eligible freedom fighters (and their dependents) who have fought for the country’s independence. This scheme was launched on 15th August 1972 to recognise the sacrifices made by the ‘swatantrata sainiks’ or freedom fighters.
Let’s learn more about the Swatantrata Sainik Samman Yojana.
It is a central government scheme that offers a monthly pension amount to freedom fighters and their eligible dependents. By doing so, it acts as a reliable pension plan for these individuals. The pension amount can vary based on the category the freedom fighter falls under.
The freedom fighter receives a specific amount each month, which includes the basic pension amount and the dearness allowance. Their spouses and dependents are also eligible to receive a specified amount, in case of the freedom fighter’s unfortunate demise. The pension amount is exempted from taxation, thus providing the individuals with substantial retirement plan tax benefits.
The list of eligible dependents under the Swatantrata Sainik Samman Yojana include:
i. Widow/ widower of the freedom fighter
ii. Mother
iii. Father
iv. Unmarried daughter (maximum three daughters eligible).
For the dependents, the pension plan is only applicable until:
i. The widow or widower remarries
ii. The daughter gets married or becomes independent
iii. The dependent parent is alive.
Only one dependent is eligible for the pension.
The following individuals are eligible for the Swatantrata Sainik Samman Pension Scheme:
Here is a detailed explanation of the eligible candidates for the Swatantrata Sainik Samman Pension Scheme:
The above individuals are eligible to receive pension under the Swatantrata Sainik Samman Yojana.
To apply for the Swatantrata Sainik Samman Yojana, you must follow these steps:
The documentation to apply for the Swatantrata Sainik Samman Yojana depends on the category the freedom fighter falls under.
In addition to the above, you must also provide the following when receiving the pension from the Swatantrata Sainik Samman Yojana:
The individual must present the above documents to the Treasury Officer/Sub-Treasury Officer.
The Swatantrata Sainik Samman Yojana can provide a regular source of income during one’s golden years.
However, eligible candidates can improve their financial strength by opting for other retirement plans as well. Pension plans that come with life insurance coverage are ideal. These provide income to you during your lifetime while also ensuring support to your loved ones in your absence. If you are concerned about the cost of these plans, use tools like the pension calculator. With this tool, you can check the premiums of different plans and choose one that fits your budget.
By creating a solid retirement plan, you can chart your path to long-term financial freedom.
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